Binance and Bermuda signed a memorandum of understanding

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The head of the Binance exchange and the prime minister of Bermuda have concluded an investment agreement worth $ 15 million.

This Friday, the acting Prime Minister of Bermuda David Burt and the head of the world famous crypto-exchange Binance Changpeng Zhao signed a memorandum of understanding.

During the press conference, Bert said that in the next few months Binance will create its own global centre of legal security in the territory of Bermuda.

The memorandum presumes that the Binance Charity Foundation will allocate $ 10 million for educational programs for technology and another 5 million for start-ups based on blockchain-technologies.

According to the head of Binance, the regulators of Bermuda are the most friendly on the whole planet. He thanked them for their loyalty and expressed confidence that in the commonwealth they will create a lot of new jobs and develop an effective legal and regulatory framework. The latter, in his words, in turn, will stimulate the emergence of technological innovation.

In addition, the conference mentioned the lawsuit of Sequoia Capital regarding the Binance crypto exchange and the company’s intention to open its office in Bermuda. This was the reason that now the leadership is actively cooperating with lawyers in order to guarantee the compliance of the new office with local laws.

The Prime Minister said that the government seriously intends to make Bermuda the first country to “comprehensively manage” ICO within the jurisdiction, adding that they are ready to cooperate with all who are ready to support them in this.

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